Private information is typically modeled as signals. A joint probability distribution captures relationships between signals and between signals and relevant variables. In this paper, we define and contrast two types of signals: generated and interpreted. We demonstrate that even though the...

We examine the extent to which migration equilibria fail to exist in a global economy in which a specific division rule determines the allocation of a perfectly divisible, nondisposable resource among individuals with single-peaked preferences who reside in local economies. In particular, almost...

Purpose – The purpose of this paper is to clarify the relationship between automated assembly and mass production environments such as the manufacture of cars, airplanes and white goods and methods of modelling and simulation. Even in this environment high‐level automated assembly is...